Light rain

52°F

Shelton, WA

Light rain
Humidity: 97%
  • Mason County Pot: More Changes

    medmariChanges were recently made (as early as today) to Title 17 of the Mason County Code regulating recreational Marijuana. This code encompasses building codes requirements for the recreational marijuana production, processing and retail sales. This industry is constantly changing, and the changes… Read More +

  • 1
  • US Judge Tosses Lawsuit By Seattle Police Officers

    gavel1A federal judge has thrown out a lawsuit brought by Seattle police officers who said new guidelines on using force jeopardized their safety. U.S. District Judge Marsha Pechman said in an opinion Monday that the officers' arguments were unsupported by the… Read More +

  • 1
  • Mariners Young Named Comeback Player Of Year

    youngCHRIS YOUNG NAMED AMERICAN LEAGUE COMEBACK PLAYER OF THE YEAR. Young honored by the Sporting News after going 12-9 with a 3.65 ERA in 30 games/29 starts in 2014. Seattle Mariners right-handed pitcher Chris Young has been named the 2014 American League Comeback Player of the Year by the Sporting News.

    Read More
  • 1

Bad Fit? Men's Wearhouse Rejects Jos. A. Bank's Offer

b_250_0_16777215_00_images_obgrabber_2013-10_647e8d3654.jpgJustin Sullivan/Getty Images (NEW YORK) -- Would a combined Men's Wearhouse and Jos. A. Bank make for a good fit?On Tuesday, when the latter confirmed it had offered to buy the former, the question hung briefly in the air. In a letter dated Sept. 18 but released on Wednesday, Robert Wildrick, chairman of Jos. A. Bank, told Men's Wearhouse CEO Douglas Ewert he was offering to buy all outstanding shares of Men's Wearhouse for $48 cash per share, or $2.38 billion in total, saying that he thought the two would make "ideal partners."

"The strategic wisdom of this transaction is compelling," declared Wildrick.  "By combining our two companies, we can together create the best men's apparel and sportswear designer, manufacturer and retailer in the U.S."

The combined companies, he said, would capture "operating synergies."

On Wednesday, however, Men's Wearhouse gave Jos. A. Bank the brush-off.  It rejected the offer as too little, saying in a statement that the deal significantly undervalued Men's Wearhouse's prospects.

Ewert said in the Men's Wearhouse statement that he and his board were confident that their recent actions, including their acquisition of boutique brand Joseph Abboud, had left the company well-positioned.

Howard Davidowitz, chairman of New York-based Davidowitz & Associates, a national retail consulting and investment banking firm, has been watching retail acquisitions succeed or fail for 40 years.  He shrugged off Men's Wearhouse's rejection as preliminary and pro forma.

"It's the job of the board to maximize price," he said.

He expected negotiations to continue, with Men's Wearhouse jockeying to get more money.

Copyright 2013 ABC News Radio

  1. Environment
  2. Recreation

Tweets

GriffinNeighbor
GriffinNeighbor - dunant is now following me on #Twitter! ift.tt/1FuUB8N

5 hours ago

washdems
washdems - Thank you! RT @nofreelunch99: @washdems add another vote for Bowling

7 hours ago

Seahawks
Seahawks - With @DC2forlife sidelined with a broken foot for at least 6 weeks, @RobT_33 steps in at fullback. #NextManUp shwks.com/rsfu

7 hours ago

DrewFromTV
DrewFromTV - @SoundersFC actually RT @realjimpiddock: And a very big thanks to @DrewFromTV, one of America's finest, for inviting us to @LAGalaxy game.

Retweeted 7 hours ago

Public Notices